Philippines · Account Transfer · Est. 2018
The Philippines' real-time low-value electronic fund transfer system, part of the BSP's National Retail Payment System (NRPS) framework. InstaPay handles instant transfers up to PHP 50,000 between banks, e-money issuers (GCash, Maya), and rural/thrift banks via account number or mobile number. Complemented by PESONet for higher-value batch transfers, InstaPay has been a key driver of the Philippines' push toward digital payments with the BSP targeting 50% of transactions to be digital by 2025.
InstaPay is Philippines’s real-time payment system (Account Transfer), launched in 2018. The Philippines real-time low-value electronic fund transfer system, part of the BSPs National Retail Payment System (NRPS) framework.
InstaPay processed 4.7 billion transactions worth $196.4bn in 2025, a year-on-year change of +230.9%.
InstaPay is operated by BSP, with instant settlement.
InstaPay launched in 2018, and today has 60 participating institutions.
InstaPay supports QR code payments, ISO 20022 messaging.
Data source: BSP/BancNet.
| Capability | Status |
|---|---|
| QR Code Payments | ✓ |
| Wallet Support | ◐ |
| 24/7 Availability | ✓ |
| Cross-Border | — |
| ISO 20022 | ✓ |
| Request to Pay | — |
| Open API | ◐ |
| Alias/Proxy | ◐ |